These are the thoughts of Edward J Gerety III -- the one and only
"There's lots of question marks out there. It's not clear how Europe is going to deal with both its debt and growth issues," he said. "We are likely to get a good announcement from the negotiations between the Greek government and the steering committee of the (Institute of International Finance). However, there's a number of question marks after that."Specifically, El-Erian broke the issues down into four concerns:1) The participation rate from euro zone companies as well as global leaders in whatever program materializes.2) How the Greek restructuring is handled — whether it will be treated as an outright default, which would trigger insurance policies known as credit default swaps against the debt, or if it will be regarded as voluntary and thus not a credit event that would cause CDS payoffs.3) Further details about the program and its funding. Christine Legarde, managing director of the International Monetary Fund, earlier in the morning told CNBC that the IMF will need a total of $500 billion, or another $350 billion, for its liquidity fund.4) Fiscal concerns with Greece, specifically the 120 percent ratio of debt to gross domestic product that will exist going forward."It's still a big issue, unfortunately," El-Erian said. "My gut is telling me that they get an agreement at the level of the negotiators, but execution risk is very high."
How can this be? LOS ANGELES—What does every aspiring dragon mother want? A dragon baby.Monday begins the year of the dragon, considered the luckiest of the Chinese lunar years. Some Chinese and Chinese-Americans are so committed to welcoming a child this year that they are getting fertility treatments to boost their chances.
Project Longshot was a conceptual design for an interstellar spacecraft, an unmanned probe intended to fly to and enter orbit around Alpha Centauri B, it would be powered there by nuclear pulse propulsion. Developed by the US Naval Academy and NASA from 1987 to 1988, Longshot was designed to be built at Space Station Freedom, the precursor to the existing International Space Station. Unlike the somewhat similar Project Daedalus, Longshot was designed solely using existing technology, although some development would have been required.Unlike Daedalus' closed-cycle fusion engine, Longshot would use a long-lived nuclear fission reactor for power. Initially generating 300 kilowatts, the reactor would power a number of lasers in the engine that would be used to ignite inertial confinement fusion similar to that in Daedalus. The main design difference is that Daedalus would rely on the fusion reaction being able to power the ship as well, whereas in Longshot the internal reactor would provide this power.The reactor would also be used to power a laser for communications back to Earth, with a maximum power of 250 kilowatts. For most of the journey this would be used at a much lower power for sending data about the interstellar medium, but during the flyby the main engine section would be discarded and the entire power capacity dedicated to communications at about 1 kilobit per second.
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